Monday, August 4, 2025
24.7 C
Lagos

Sterling Launches Imperium Platform for Solar Energy Consumers

Sterling Bank Plc has launched a new and innovative digital product, known as the Imperium Platform, in a bid to connect consumers and providers of renewable energy (solar solutions) as a viable solution to Nigeria’s electricity crisis.

The Imperium Platform was launched following the unveiling of the Nigerian electricity industry report entitled, “Powering Nigeria: How Solar Energy Can Become a Sustainable Electricity Alternative.”

The report was produced by Sterling Bank in partnership with Stears, a digital information company.

Dele Faseemo, Group Head, Renewable Energy at Sterling Bank, said in a statement issued by the bank that the Imperium Platform seeks to provide clean and affordable energy solutions to interested customers while providing different financing options to customers purchasing the solution outright or paying for the installation and operation of the solution.

Faseemo explained that Sterling Bank, in partnership with Stears Data, the data collection, analytics, and data access division of Stears, embarked on the study to tackle the problem of providing solar energy in the country.

The report showed that despite the privatization of Nigeria’s electricity industry, the country still has one of the lowest electrification rates in the world, as 43 percent of its population has no access to grid electricity, an indication that 85 million Nigerians are not connected to – and cannot receive electricity from – the Nigerian transmission grid.

He said the Imperium would provide a range of purchase options to consumers because solar energy solutions are not one-size-fits-all, so purchasing options should not be either.

According to him, Sterling Bank employs several purchase models to provide renewable energy solutions for its customers. This ensures that customers with different needs and purchase abilities can access solar energy solutions.

He listed the options to include outright purchase, lease to own, and power as a service. Using outright purchase as an example, he said that energy consumers could purchase products directly from vendors via the Imperium Platform, a dedicated e-commerce platform hosted by Sterling Bank.

In lease to own, Imperium provides financing at competitive interest rates for consumers with good credit scores or clean credit checks who are keen to own the assets. Under power as a service, Imperium offers fixed monthly energy-charge options to consumers, but the underlying assets are owned by Imperium as it (Imperium) purchases and owns the assets.

This saves clients huge capital outlay and maintenance worries, while the monthly energy charge is based on the capacity deployed.

In this regard, the bank has recently partnered with the Nike Art Gallery to install solar panels at the gallery via the bank’s Imperium outlet as part of its commitment to a renewable energy-powered Nigeria and the development of the nation’s tourism sector.

The development is a sequel to recent partnerships with the gallery to drive an appreciation and spotlight the investment opportunities available in Nigeria’s arts and tourism sectors.

The Nike Art Gallery, owned by Chief Nike Okundaye, is one of the largest of its kind in the West African sub-region, with a collection of about 8,000 diverse artworks from various Nigerian artists.

 

 

 

spot_img
spot_img

Hot this week

SEC: Why We Granted “No Objection” to First Holdco Transaction

The Securities and Exchange Commission (SEC) Nigeria wishes to...

Capital Market to Unlock $500bn Assets via Commodities Exchanges, Warehouses

The Director General, Securities and Exchange Commission (SEC), Dr....

SEC Disowns AGM of Tourist Company of Nigeria, Reaffirms Regulatory Oversight

The Securities and Exchange Commission (SEC) has disowned the...

NCDMB Leads Push for Homegrown Talents at Chevron-funded HCD Graduation

The Nigerian Content Development and Monitoring Board has reaffirmed...

Linkage Assurance Reports 50% Revenue Growth in 2024

L-R: Funkazi Koroye-Crooks, Non-Executive Director; Moses Omoregbe, Company Secretary;...

Topics

Stock Market Slightly Upturns After Bearish Run… ASI Up 1bp

The local bourse slightly upturned at the close of trade...

CBN: Anchor Borrowers’ Programme Loan Repayment Tops 52.39% in Feb 2023

  The Central Bank of Nigeria (CBN) says it remains...

NLNG: No Flood Impact on Operations Nationwide

The attention of Nigeria LNG Limited (NLNG) has been...

SanlamAllianz Partners NCRIB on 2025 Empowerment Series

Dr. Abosede Adegbite, Consultant, Family Physician; Tope Adaramola, Executive...

The PenOp Media Retreat 2018

R-L: Mr. Chinedu Ekeocha, Managiong Director/CEO, Diamond Pension Fund...

Actions Taken by NCDMB Towards Addressing Sterling Oil’s Non-Compliance Issues

The Nigerian Content Development and Monitoring Board (NCDMB) has...

HEREL: Redefining Living Experiences in Nigeria via Development

On Sunday, 29th May 2022, Real Estate and Hospitality...

Banks are Pivotal to Success of AfCFTA – Ecobank MD

Patrick Akinwuntan Managing Director Ecobank Nigeria The Managing Director, Ecobank Nigeria, Patrick...
spot_img

Related Articles

Popular Categories

spot_imgspot_img